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NEAR is up by 10% on Monday: Here is why

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NEAR is one of the best performers amongst the top 100 cryptocurrencies on Monday as the market starts the week on the front foot.

The cryptocurrency market has started the week on the front foot. NEAR, the native token of the Near Protocol, is one of the best performers amongst the top 100 cryptocurrencies on Monday.

NEAR has added 10% to its value today, outperforming the broader cryptocurrency in the process. The broader market added 1% to its value on Monday, with the total market cap still above $1 trillion.

Bitcoin has climbed above the $22k resistance level after rallying by more than 11% over the past seven days. Ether is down by more than 1% in the last 24 hours and is trading around $1,700 despite the Merge getting closer.

NEAR’s rally comes as the Near Protocol officially launches its NEARCON event today.

The event is taking place in Lisbon, Portugal, and is highlighting all the ways the Near ecosystem is growing. There will be talks, networking, workshops, live demos, entertainment, and more.

Key levels to watch

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The NEAR/USD 4-hour chart is bullish as the Near Protocol has been performing well over the last 24 hours. The technical indicators show that NEAR is outperforming the broader cryptocurrency market.

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At press time, NEAR is trading at $5.1712. The MACD line crossed into the positive zone earlier this month and continues to remain there, indicating strong bullish momentum.

The 14-day relative strength index of 71 shows that NEAR could enter the overbought region if the rally continues.

If the bulls remain in charge, NEAR could touch the $5.557 resistance level before the end of the day. The second major resistance level is around $6.16, and NEAR could reach that level for the first time since May if the rally can be sustained.  

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


Buy NEAR with Binance today

Okcoin

Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. Okcoin’s mission is to help decentralize finance and level the economic playing field for everyone around the world. Serves 190+ countries with over 100K+ active traders and investors.


Buy NEAR with Okcoin today

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  • Source: https://coinjournal.net/news/near-is-up-by-10-on-monday-here-is-why/

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